Can someone help me with these exercises please? Column F are the numbers I'm working with. Any help is appreciated.

4.

Jobcostingandoverheadapplication

Uniflexappliesoverheadonthebasisofdirectlaborcost.InDecember20X4,thecompany'scostaccountantmadethefollowingpredictionsfor20X5operations:directlaborcost,$620,000;factoryoverhead,$961,000.

UniflexworkedonjobNos.241and242inJanuary.Thecostsincurredandproductionstatusofthesetwojobsappearinthetablethatfollows.

		JobNo.241	JobNo.242
Directmaterials	$26,000	$47,000
Directlabor	18,000	24,000
Productionstatus	Inprocess	Inprocess

Bytheendof20X5,actualdirectlaborcostamountedto$612,500,andfactoryoverheadincurredtotaled$967,500.TherewasnoworkinprocessonJanuary1,20X5.

Computethefollowing:

1. Uniflex'soverheadapplicationrate.
2. ThebalanceoftheWorkinProcessaccountonJanuary31,20X5.
3. Theamountofover-orunderappliedoverheadfor20X5.Besuretoindicatewhetheroverheadwasoverappliedorunderapplied.

Prob 2.

Computationsusingajobordersystem

GeneralCorporationemploysajobordercostsystem.OnMay1,thefollowingbalanceswereextractedfromthegeneralledger:

Workinprocess	$35,200
Finishedgoods	86,900
Costofgoodssold	128,700

WorkinProcessconsistedoftwojobs,No.101($20,400)andNo.103($14,800).DuringMay,directmaterialsrequisitionedfromthestoreroomamountedto$96,500,anddirectlaborincurredtotaled$114,500.Thesefiguresaresubdividedasfollows:

DirectMaterials	DirectLabor
JobNo.	Amount	JobNo.	Amount
101	$5,000	101	$7,800
115	19,500	103	20,800
116	36,200	115	42,000
Other	35,800	116	18,000
$96,500	Other	25,900
			$114,500

JobNo.115wastheonlyjobinprocessattheendofthemonth.JobNo.101andthree"other"jobsweresoldduringMayataprofitof20%ofcost.The"other"jobscontainedmaterialandlaborchargesof$21,000and$17,400,respectively.

Generalappliesoverheaddailyattherateof150%ofdirectlaborcostaslaborsummariesarepostedtojoborders.Thefirm'sfiscalyearendsonMay31.

Instructions

1. ComputethetotaloverheadappliedtoproductionduringMay.
2. Computethecostoftheendingworkinprocessinventory.
3. ComputethecostofjobscompletedduringMay.
4. ComputethecostofgoodssoldfortheyearendedMay31.

Prob. 2

1. Break-evenandotherCVPanalysisHodgeandBestmanufacturesasingleproduct.Theinformationthatfollowsrelatestocurrentoperations:

   Sales(80,000units@$15)				$1,200,000
   Less:Variablecost		$720,000
   Fixedcost		360,000		1,080,000
   Netincome				$120,000

   Instructions
   1. Thesalesoutlookfornextyearisbleak.Calculatethenumberofunitsthatmustbesoldtobreakevenifcurrentrevenueandcostbehaviorpatternscontinue.
   2. IfHodgeandBestwishestoearnatargetincomeof$90,000duringthenextaccountingperiod,whatlevelofdollarsalesmustbegenerated?
   3. Managementisstudyinganincreaseinthesellingpriceto$18perunit.Ifconsumers balkandvolumedrops,calculatethenumberofunitsthatmustbesoldtoearnthetargetincomeof$90,000.Shouldthechangebeimplemented?Why?
   4. HodgeandBest'sprojectedbreak-evenpointandtargetincomearetheresultofinteractionsofnumerousfinancialeventsandtransactions.Determinetheimpactofthefollowingoperatingchangesbyfillingintheblanksbelowwith"increase,""decrease,"or"notaffect."
   • 1)Anincreaseindirectlaborcostwill_______________________totalvariablecosts,_______________________thecontributionmargin,and_______________________thebreak-evenpoint.
   • 2)Anincreaseinplantinsurancewill_______________________thebreak-evenpointand_______________________thedollarsaleslevelcalculatedinpart(b).
2. 3. StraightforwardCVPanalysisFRBInc.sellsasingleproductfor$40.ThefollowingcostsandexpenseswereincurredatstoreNo.504:

   Variablecostsperunit	Annualfixedcosts
   Invoicecost	$24	Salaries	$60,000
   Salescommission	4	Advertising	14,000
   		Other	16,000

   Thecompanysold8,200unitsduring20X4.Instructions
   1. Computethe20X4break-evenpointinbothdollarandunitsales.
   2. Byhowmuchwillsaleshavetoincreasein20X5over20X4levelsifmanagementwishestoearnatargetincomeof$14,400?
   3. Atpresent,howmuchdoeseachunitprovidetowardcoveringFRB'sfixedcostsandgeneratingincome?Assumethatmanagementbelievesthisamountistoolow.WhatalternativesareavailabletoFRB?
   4. Whatwouldbetheeffectonthebreak-evenpointifmanagementreducedsalarycostsby$11,600andincreasedthe$4salescommissionby20%?
3. 4. BreakevenandotherCVPanalysisQuebecInc.manufacturesandsellsasingleproduct.Theinformationthatfollowsrelatestotheyearjustended,when230,000unitsweresold:

   Salespriceperunit	$	10
   Variablecostperunit		4
   Fixedcosts		930,000

   Instructions
   1. DeterminethenumberofunitsthatQuebecsoldinexcessofitsbreak-evenpoint.
   2. Ifcurrentrevenueandcostpatternscontinue,computethedollarsalesneedednextyeartoproduceatargetincomeof$492,000.
   3. Assumethatadifferentcompensationplanwasineffectduringthecurrentyear.Ratherthanpaysixsalespeopleanaveragesalaryof$36,000each,managementhasproposedthatthesalespeoplereceivea$10,000basesalaryanda6%commissionbasedongrosssales.
      • 1)Wouldthecompanyhavebeenbetterofffinanciallyifthenewplanhadbeenadoptedfortheyearjustended?Byhowmuch?
      • 2)Whateffectmightpayingacommissionhaveongrosssales?Brieflyexplain.
   4. Inadditiontothecompensationplandescribedinpart(c),Quebecisstudyingtheimpactofotheroperatingchangesaswell.Statewhetheryouagreeordisagree withthefollowingfindingsofanewlyhiredstaffaccountant:1)Ariseinpropertytaxeswillincreasethebreak-evenpoint.2)Adecreaseinrawmaterialcostwillincreasethecontributionmarginanddecreasetotalfixedcosts.

Ashford Un Guida Wee LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/ Problem Ch 4 Ex 4 Account to be changed Materials Job 241 Estimated Direct labor cost Labor Job 242 Actual Factory Overhead Questions a. Uniflex's overhead application rate. (This rate needs to be recalculated because the labor has changed.) b. The balance of the Work in Process account on January 31, 20X5. Job 241 Material Labor Overhead Total Job 242 Material Labor Overhead Total c. The amount of over- or underapplied overhead for 20X5. Indicate whether overhead was overapplied or underapplied. Original Amount 26000 620000 24000 967500 YOUR ANSWERS BASED UPON COURSE START DATE AUDIO/VIDEO EX 5